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Jan 18, 2013
01/13
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the tax fight for the middle-class comes from the end of the payroll tax cut, a temporary tax break that wasn't renewed in the fiscal cliff deal. >> the irs tax code is still a nightmare. it's too complex. too costly, and too unfair. >> reporter: both sides say they're open to simplifying the tax code. more than 70,000 pages in 2012. the u.s. government gives away more than a trillion dollars a year in tax breaks, but republicans say reform isn't about squeezing more money out of taxpayers. >> i think tax reform is a good idea. but now that we have resolved the revenue issue, tax reform ought to be revenue neutral as it was back during the reagan administration. >> reporter: the president and congressional democrats disagree. >> but spending cuts must be balanced with more reforms to our tax code. the wealthiest individuals and the biggest corporations shouldn't be able to take advantage of loopholes and deductions that aren't available to most americans. >> trust me, there are plenty things within that tax code, these loopholes, where people can park their money on some island offshore
the tax fight for the middle-class comes from the end of the payroll tax cut, a temporary tax break that wasn't renewed in the fiscal cliff deal. >> the irs tax code is still a nightmare. it's too complex. too costly, and too unfair. >> reporter: both sides say they're open to simplifying the tax code. more than 70,000 pages in 2012. the u.s. government gives away more than a trillion dollars a year in tax breaks, but republicans say reform isn't about squeezing more money out of...
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Jan 16, 2013
01/13
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higher taxes on households making above $450,000 and other tax increases will raise an additional $600 billion in revenue by 2022. but that's not enough. and as democrats and republicans gear up over the next few months to debate spending cuts, debt limits and the federal budget, there still is not a credible plan out there that puts a serious dent in the debt. but douglas durst still holds out hope that one day he'll be able to retire his dad's debt clock. >> i'm an optimist. we would have a very big party. >> reporter: alison kosik, cnn, new york. >>> speaking of money, if you're looking for that job that really pays, you probably want to get a college degree or pick up a second degree. that is right. ali velshi and christine romans take a look at the careers and the schools that can help you get ahead. >> thanks. okay. so when christine and i were in college, the idea was to study kind of whatever you -- those were in the days before cable -- study whatever you wanted and the world was your oyster if you got a university degree. if you had to go back and make a choice today about wh
higher taxes on households making above $450,000 and other tax increases will raise an additional $600 billion in revenue by 2022. but that's not enough. and as democrats and republicans gear up over the next few months to debate spending cuts, debt limits and the federal budget, there still is not a credible plan out there that puts a serious dent in the debt. but douglas durst still holds out hope that one day he'll be able to retire his dad's debt clock. >> i'm an optimist. we would...
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Jan 18, 2013
01/13
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ready to play ball, he was going to validate their years of investigation and their millions of federal tax dollars that were spent to build a case against him and he also wanted to be able to rebuild his public image. yet he did neither of those things, he challenged the heart of the anti-doping agency's report was that he actually led and facilitated the use on his cycling team. then the second part of that was even worse because he admitted to bullying, he seemed callous, he seemed rep tillian. it was the sort of thing where anybody who tuned in because they wanted to see contrition, remorse, i don't think people should have to do the contrition cabuki theater, but you don't call up oprah winfrey to do an interview unless you're going to do the oprah winfrey interview. >> does he stand a chance in your mind of ever rehabilitating himself, his image or his career in the sports world? >> let's take the competition piece, you saw it has a lifetime ban on him. the condition for that being removed is him testifying under oath to usada and being willing to name corrupt officials or corrupt cyc
ready to play ball, he was going to validate their years of investigation and their millions of federal tax dollars that were spent to build a case against him and he also wanted to be able to rebuild his public image. yet he did neither of those things, he challenged the heart of the anti-doping agency's report was that he actually led and facilitated the use on his cycling team. then the second part of that was even worse because he admitted to bullying, he seemed callous, he seemed rep...
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Jan 19, 2013
01/13
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but there's a road to citizenship that you are able to go on if you pay your back taxes, if you have a criminal investigation, you find out there's no crimes, no serious crimes. and you get at the end of the line. but there has to be a path. three, we've got to have family unity as a central core of any policy. you can't deport the parents and leave their 5 million kids here. there are 2 million dreamers. so those are some of the elements of wa we talked about, and i know that the president supports those core elements. we expect there will be bipartisan support for that, as well. >> can you give us a sense of the timing on this? when will we see these plans. >> it's going to depend on the congress, as well. i expect in the next month you'll see these proposals, certainly already, senator mccain and graham and in len dez and others are working together to come up with a comprehensive package. remember, there's been some movement from the republicans as a result of the election. i think they're going to want do it on a bipartisan basis. >> go back to guns for a minute. you listed thin
but there's a road to citizenship that you are able to go on if you pay your back taxes, if you have a criminal investigation, you find out there's no crimes, no serious crimes. and you get at the end of the line. but there has to be a path. three, we've got to have family unity as a central core of any policy. you can't deport the parents and leave their 5 million kids here. there are 2 million dreamers. so those are some of the elements of wa we talked about, and i know that the president...
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Jan 16, 2013
01/13
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obama demands the wealthy pay their fair share of taxes. but he's just another elitist hypocrite when it comes to a fair share of security. >> you see there's mayor bloomberg, nbc anchor, david gregory, and senator dianne feinstein. so, they're tapping into that, too, because many people think that the media is one-sided on this issue, jason. >> didn't we do this for the last two years? the election is over. the whole barack obama is part of this elitists is a dead argument. it doesn't move things forward. what the nra should be talking about is let's make sure people have to be licensed properly to have their guns. make sure people know how to use a gun if someone comes into their home. these ads and attacks raises money, gets people talking, and it doesn't help the nra's reputation with the public. >> ron, jason has a point. this could create a backlash. a "washington post" poll shows 44% have an unfavorable view of the nra's leadership. >> i don't think that matters to the nra. what their goal is is to protect gun rights, the rights of t
obama demands the wealthy pay their fair share of taxes. but he's just another elitist hypocrite when it comes to a fair share of security. >> you see there's mayor bloomberg, nbc anchor, david gregory, and senator dianne feinstein. so, they're tapping into that, too, because many people think that the media is one-sided on this issue, jason. >> didn't we do this for the last two years? the election is over. the whole barack obama is part of this elitists is a dead argument. it...
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Jan 14, 2013
01/13
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what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. >> joining me now, john king, john king, welcome, welcome. help me understand what exactly the president is saying. is he saying he absolutely will not negotiate with congress when it comes to the debt ceiling? and to point out, i had ben stein on, an economist. he said, brooke, saying not negotiating is a negotiating tact tactic. >> ben is correct in that regard. what the president is saying, he's not going to repeat two years ago. he did get involved in detailed negotiations and the president, in that same news conference, said if the republicans feel they have to have some package of spending cuts to go with raising the debt ceiling, then let them put their own plan together and see if they can get the votes in congress. he's not going to help them. he said he was not going to let the republicans put a gun to the head of the american people, or he was not going to let them attach a ransom. the president used tough language today and part of what he was saying is i wo
what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. >> joining me now, john king, john king, welcome, welcome. help me understand what exactly the president is saying. is he saying he absolutely will not negotiate with congress when it comes to the debt ceiling? and to point out, i had ben stein on, an economist. he said, brooke, saying not negotiating is a negotiating tact tactic. >> ben is correct in that regard. what the president is saying,...
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Jan 18, 2013
01/13
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again, that is mostly taxes. on the same day, $52 million will need to be paid out. we've got a shortfall of $43 billion. they need to prioritize bills on that day. they can put off others. we're not entirely sure that prioritizing payments is legal but that's probably what they will have to do. the treasury could wait until it has enough revenue on hand to cover one full day's payments and means all the bills would be paid late and we know how that storts starts to look. johnny isakson is a member of the senate finance committee. senator, thank you for being with us. i wanted to talk with you for quite some time. you have an extensive, extensive business background. and you can agree that deciding to pay some bills but not others while you wait to scrape up enough cash to make payments isn't a sustainable way of doing business. would you agree with that? >> no question about it. that is all wrong. you're exactly right. >> what are the principles that you stand for and many in the republican party agree with and some in the democratic party, that we do have to deal w
again, that is mostly taxes. on the same day, $52 million will need to be paid out. we've got a shortfall of $43 billion. they need to prioritize bills on that day. they can put off others. we're not entirely sure that prioritizing payments is legal but that's probably what they will have to do. the treasury could wait until it has enough revenue on hand to cover one full day's payments and means all the bills would be paid late and we know how that storts starts to look. johnny isakson is a...
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Jan 15, 2013
01/13
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state legislators are saying, let's put excise taxes on. and they feel they have to do something. >> obesity rates are on the increase, soda consumption is on the decrease. i was talking to sanjay gupta, he said overall we're just eating more. but, look, coke is doing pretty well. i read a quote where you were saying the soda industry is under siege, but reading -- what was a reading, business week, business week says coke raked in $48 billion in profits last year and they're thinking it will be $50 billion this year. do you think they're under the attack. they seem to be doing pretty well. >> well, they may be doing pretty well, but they're doing much better overseas than they are in the united states. and -- but they see a decaying business. all the criticism is repositioning soft drinks from fun and happiness to disease and death. that's not a good place for industry to be. >> so what do you want from coke? because obviously they want to make money. they sell all kinds of things. short of stopping selling these sugary drinks, is there an
state legislators are saying, let's put excise taxes on. and they feel they have to do something. >> obesity rates are on the increase, soda consumption is on the decrease. i was talking to sanjay gupta, he said overall we're just eating more. but, look, coke is doing pretty well. i read a quote where you were saying the soda industry is under siege, but reading -- what was a reading, business week, business week says coke raked in $48 billion in profits last year and they're thinking it...
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Jan 15, 2013
01/13
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couldn't take anything for granted. >> reporter: their lobbying effort paid off, there is no federal tax on sugary drinks. fast forward to today, the centers for disease control says more and more americans are drinking the stuff. the center for science and the public interest, a non-profit consumer advocacy group says sugary drinks are the number one source of calories in the american diet. they put out their famous version of the coca-cola bear called the real bear. ♪ sugar, sugar, so good, so good, sugar ♪ >> coca-cola said "obesity is complex and requires partnership and collaboration to help solve it. we have an important role to play in the effort to find solutions that work for everybody." let's bring in our chief medical correspondent dr. sanjay gupta. so i know it's a tough topic. coke says it can play an important role in america's fight against obesity, it says it's decreased the calories in its products. in middle schools it sells juices instead of cans of coke. it says it's doing its part. what's the big deal? leave us alone? >> i think that's part of it. there's a fear
couldn't take anything for granted. >> reporter: their lobbying effort paid off, there is no federal tax on sugary drinks. fast forward to today, the centers for disease control says more and more americans are drinking the stuff. the center for science and the public interest, a non-profit consumer advocacy group says sugary drinks are the number one source of calories in the american diet. they put out their famous version of the coca-cola bear called the real bear. ♪ sugar, sugar, so...
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Jan 14, 2013
01/13
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interview with david gregory, i talked about health care for the nation, climate change, redistributive tax policies -- these are things that republicans oppose on principle, and he did that, though, which makes it worse, in a conversation, and there was a subtle link to this issue of race. it makes republicans look like they don't oppose president obama for all these principle or policy reasons that were just brought up, but rather because he's black, and that's what is really, really disturbing and destructive, that we have a serious disagreement with policy and principles, not because of who the president is or what his race is. >> l.z., response? >> you see what i mean, carol? that's a perfect example of what i talked about earlier. there are racist facets of republican party. when you look at comments made by republican john sununu, how could you not see the hint of racism in his voice when he talks about the president? are there disagreement when's it comes to policy? absolutely. let's remember the republican party actually was the party that gave us the epa. the republican party gave
interview with david gregory, i talked about health care for the nation, climate change, redistributive tax policies -- these are things that republicans oppose on principle, and he did that, though, which makes it worse, in a conversation, and there was a subtle link to this issue of race. it makes republicans look like they don't oppose president obama for all these principle or policy reasons that were just brought up, but rather because he's black, and that's what is really, really...
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Jan 14, 2013
01/13
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higher estate tax rate. but it could have been worse. >> i think that the wealthy got off pretty easily here. there's a modest tax increase for the very wealthiest in this society, a very tiny percentage. i, frankly, that there are more taxes coming and they're going to bite more deeply into the middle class. >> approximately two-thirds of american will pay more taxes. the tax bite for the middle class comes from the end of payroll tax cut, which wasn't renewed in the fiscal cliff deal. but whatever happened to comprehensive tax reform? >> the irs tax code is still a nightmare. it's too complex, too costly, and too unfair. >> reporter: both sides say they're open to simplifying the tax code. more than 70,000 pages in 2012. the u.s. government gives away more than $1 trillion a year in tax breaks, but republicans say reform isn't about squeezing more money out of taxpayers. >> i think tax reform is a good idea, but now that we have resolved the revenue issue, tax reform ought to be revenue neutral, as it was
higher estate tax rate. but it could have been worse. >> i think that the wealthy got off pretty easily here. there's a modest tax increase for the very wealthiest in this society, a very tiny percentage. i, frankly, that there are more taxes coming and they're going to bite more deeply into the middle class. >> approximately two-thirds of american will pay more taxes. the tax bite for the middle class comes from the end of payroll tax cut, which wasn't renewed in the fiscal cliff...
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Jan 20, 2013
01/13
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we have seen anything but that really over the fights over the spending cuts and the tax hikes. do you expect this type of relationship, we'll call it that, between the president and congress to continue? >> i do think there will be that antagonism. we have to be realistic about that. i also think there are certain republicans who understand that while the president has to build a legacy, this is also about republican legacy. what kind of party do they want to be in the next four years? do they just want to continue to be the party of the permanent majority in the house, which can obstruct or do they want to focus on how you build towards being a party that can actually win the white house? this is where i think immigration reform comes in. that is a big first step for republicans to show that they understand, especially to the growing latino community, what they need to do in order to bring them in and, frankly, in order to build a path towards winning the white house in 2016 or even beyond. if they don't do that. if they don't focus on trying to figure out a way to get immigra
we have seen anything but that really over the fights over the spending cuts and the tax hikes. do you expect this type of relationship, we'll call it that, between the president and congress to continue? >> i do think there will be that antagonism. we have to be realistic about that. i also think there are certain republicans who understand that while the president has to build a legacy, this is also about republican legacy. what kind of party do they want to be in the next four years?...